For the last several years, home values have been rising, which means homeowners have been building equity. Now is a great opportunity to leverage that equity to avoid or eliminate high interest debt. Recently, the 2018 Houzz & Home Study revealed: “Homeowners with mortgages have seen their home equity more than double since 2011, increasing to a record-setting $8.3 trillion in 2017.” The average homeowner gained $16,200 in home equity between Q2 2017 and Q2 2018 according to the latest release of CoreLogic’s Home Equity Report . Since 2011 home values have increased significantly...READ MORE
For the Week Ending March 15, 2019 Please enjoy this quick update on what happened this week in the housing and financial markets. Wholesale prices barely rose in February, after falling for 3 straight months. This is a sign there is little inflation pressure in the economy, which is good for rates. Retail sales edged up in January, but December was revised sharply lower. The increase was mainly due to discretionary spending and purchases of building materials....READ MORE
Looking to upgrade your existing home? You might consider one of Greenway's many renovation programs, but a cash-out refinance might be a better solution. Renovation Loans are not the only option when it comes to home repair and upgrades. Longing for a new kitchen, an updated bathroom, or need an addition for a growing family? Everyone’s scenario is different and there are options -- Your Greenway Mortgage Loan Officer will help you determine how to best achieve your goals. You can learn more about our Renovation Programs here. But, how can a cash-out refinance work for me? A...READ MORE
For the Week Ending March 8, 2019 Please enjoy this quick update on what happened this week in the housing and financial markets. A U.S./China trade deal may be close, after months of trade disputes. If a deal is signed, it could put some pressure on rates, as stocks may rally on the news. The ECB statement this week reinforced concerns about a global economic slowdown. Weak global economies have helped to keep rates low here at home....READ MORE
During tax season, refunds help many become homeowners! If you’re planning to buy a home in the near future, consider using your tax refund as a down payment option. We know that saving for a down payment can be a big challenge and even one of the biggest barriers to homeownership. Many people sometimes overestimate the size of the down payment they need. Often times, a tax refund may cover the entire down payment. Exactly how much of the down payment you can cover will depend on the amount you want to borrow and the percentage you’re required to put down. Depending on your credit history and other factors, there...READ MORE
In 2017 and 2018, Greenway Mortgage was awarded Best Mortgage Company in Monmouth County, NJ by the Asbury Park Press' Reader's Choice Awards.